Purchasing an older home

Older homes often include an abundance of character and possibly even a discounted price – but purchasing a home that has been around for a long time could also mean with age-related problems.

4 things to check when purchasing older homes

Potential problem hot-spots in older homes

Electrical issues

Older homes may have dated wiring and electrical panels that will not have the ability to keep up with today’s needs, so ensure that you check that that the house is up to code. Also, insulation on old wiring could be a safety hazard, RISMedia’s HouseCall warns. Have an electrician examine the home to be assured everything is in order.

Roofing

Generally speaking, roofs often ought to be replaced every 10 to 20 years. Learn the last time the roof was replaced and exactly how it was done. Some homeowners might just add new shingles on top of the old roof, which isn’t viewed by housing experts as the most effective way to replace a complete roof. Also, look for loose shingles, leaks, and the type of materials used on the roof. “A composite shingle roof is going to cost less to replace when compared to a clay tile or slate roof,” RISMedia notes. “The pitch of the roof can also drive up costs – a roof that is particularly steep may be challenging to replace and repair.”

Foundations

Older homes could possibly have foundations that are cracked, sunken, uneven or otherwise needing repair. A structural engineer can closely inspect a foundation and alert buyers to potentially costly problems.

Lead paint

Older homes could quite possibly have lead paint, which can cause serious health problems. It was banned in the U.S. in 1978, but homes built before then might still have it. Actually, about 87% of homes built before 1940 contain lead-based paint that should be professionally removed.

Ready to find your new home here in the Tampa Bay and Surrounding Areas? Nick, Cindy & Nicholas Davis with RE/MAX Premier Group are here to assist you with all your Real Estate Needs. We are always available at 813-300-7116 to answer your questions or you can simply click here and we will be in touch with you shortly.

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